Press/Video,
July 21, 2024
Following the recent launch of the new Defaqto MPS Comparator, Andy Parsons, insight manager investments at Defaqto, takes a closer look at the top-performing portfolios that are categorised as being constituents of the ‘Adventurous’ comparator....
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July 18, 2024
18/7/2024: Evidence-based investing pioneer Sparrows Capital announces the appointment of Arnie Millington to oversee its tailored MPS proposition for wealth managers – Sparrows Capital MPS. Arnie joins the firm from Seven Investment Management (7IM),...
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July 11, 2024
MPS is an incredibly powerful tool. Platform tech allows a dispersed team with complementary skill sets to collaborate in managing the assets of underlying clients efficiently and effectively. It fosters specialisation and it delivers...
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June 11, 2024
Robin Powell, editorial consultant to Sparrows Capital Limited, outlines eight fascinating retirement planning insights from Nobel laureate and revered academic William Sharpe.
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April 3, 2024
Robin Powell, editorial consultant to Sparrows Capital Low-cost, evidence-based investment solutions have severely disrupted the traditional DFM market and are greatly improving outcomes for clients in the accumulation phase. But, says ROBIN POWELL, it’s...
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April 3, 2024
On the back of the FCA's Retirement Outcomes Review, Sparrows Capital Limited's David Ogden looks at the complexities involved in regulating decumulation advice, and the implications for advisers of the specific focus on this...
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February 26, 2024
LONDON - 26 02 2024 Evidence-based MPS provider Sparrows Capital (“Sparrows”) and Just Group (“Just”) have partnered to launch a retirement income solution, SCore-D, to help advisers navigate the financial risks their individual clients...
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January 25, 2024
Sparrows Capital Limited's John Bennett looks at the effect of IFA market consolidation on independence, investment choice, and client outcomes.
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January 23, 2024
Steve Johnson looks at the popularity of equal-weighted ETFs in 2023 and why investors in the US may be looking to cap their exposure to the Magnificent Seven stocks.
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January 11, 2024
For many investors, the biggest worry is running out of money during retirement. There are five reasons investors might outlive their retirement savings: 1) Mismatch between wealth and lifestyle 2) Effects of exposure to adverse...
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January 10, 2024
Robin Powell, editorial consultant to Sparrows Capital There are few things more depressing than the thought of running out of money before we reach the end of our lives. Most of us would like to...
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January 9, 2024
Following on from the announcement by The Pensions Regulator (TPR) in late 2023 that the watchdog plans to share interim guidance on decumulation in 2024, Mark Northway, Investment Manager at Sparrows Capital has been actively...
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December 20, 2023
Following from the recent announcement by The Pensions Regulator (TPR) that the watchdog plans to share interim guidance on decumulation, UK Adviser spoke to Mark Northway, investment manager for the investment service, Sparrows Capital.
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December 19, 2023
Investment Week asks market experts what the focus on value for customers will bring in 2024
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December 13, 2023
The issue of the advice gap and how to encourage individuals to engage with their finances for their own long-term benefit is a long-running and, once again, topical one as the FCA wrestles with the...
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November 16, 2023
By Robin Powell, editorial consultant to Sparrows Capital "The four most dangerous words in investing,” the famous investor Sir John Templeton once said, “are 'this time it's different’.” Again and again, investors...
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November 16, 2023
Robin Powell, Sparrows Capital Limited's editorial consultant, looks at the arguments for and against hedge funds as a diversifier at this point in the investment cycle. Higher inflation, sensible bond yields, and low equity expected premium...
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November 15, 2023
Professional Adviser interviews Sparrows Capital's, David Ogden and Mark Northway on the regulatory tailwind favouring MPS.
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November 14, 2023
Darius McQuaid speaks with Sparrows Capital's David Ogden about the MPS selection process for advisers.
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November 7, 2023
Sparrows Capital's Mark Northway concludes that there is undoubtedly logic in the LTAF approach, but major questions remain, including whether a new fund structure is really needed, and whether a 90-day (plus) notice period...
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November 7, 2023
Sparrows Capital Limited's David Ogden looks at the implications of vertical integration on the provision of value to end clients. Where owners or majority shareholders are private equity firms, businesses need to ensure that their owners’ laser-like...
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October 21, 2023
The potential to provide higher risk-adjusted returns and a wider pool of investment opportunities has driven some asset managers to embrace the Long-Term Asset Fund, but the structure has yet to build its market credibility....
Read MoreNewsletters, Sparrows Papers,
August 10, 2023
Sparrows Capital is delighted to announce that Sarra Slegg has recently joined the SCore MPS team. She will be working with John Bennett and Jack Boon and Dan Smith and will be responsible for...
Read MoreNewsletters, Sparrows Papers,
July 20, 2023
Sparrows Capital is delighted to announce that Dan Smith has recently joined the SCore MPS team. He will be working with John Bennett and Jack Boon to expand our UK adviser network. Dan...
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June 27, 2023
Sparrows Capital, a multi-award-winning investment services firm, is delighted to announce the appointment of Adrian Durham as non-executive director. Adrian is the founder and Group CEO of FNZ Group and has overseen the development...
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June 26, 2023
In poetry, the alternative rhyme scheme delivers assonance every other line. Investors might want to take note of this construct as they review portfolio risks against the background of today’s complex environment, says, Mark Northway, Investment...
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June 16, 2023
Sparrows Capital is delighted to announce the appointment of Rupert Dickinson as chair of the board to lead the company through its next stage of development. The appointment is subject to regulatory approval. Rupert...
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June 2, 2023
When we read about the “benefits” of active fund management, it usually boils down to choice. In other words, while passive fund managers have no option but to track the index, active managers can choose...
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May 31, 2023
Sparrows Capital has added a range of Market portfolios to its popular SCore MPS suite. The Market range comprises five portfolios ranging from 20% equity to 100% equity. The portfolios reflect a pure market capitalisation...
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May 18, 2023
Choice is fundamental to active management, but the paradox is that it’s the very thing that seems to detract from its performance. Sparrows Capital's Mark Northway looks at the effector of professional behavioural bias on...
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April 28, 2023
28 April 2023, London: Sparrows Capital, a multi-award-winning investment services firm, has secured an investment from FNZ Ventures, the corporate venture unit of FNZ, the global wealth management platform, to further develop its low-cost evidence-based...
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April 28, 2023
The unbridled optimism and binary criteria that dominated ESG investing a decade ago has changed – for the better – and every type of stakeholder now has a much more realistic grasp about what...
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March 22, 2023
Cryptocurrencies had a particularly turbulent time in 2022, with the price of bitcoin dropping below $16,000. But there are now signs that the crypto market is starting to recover. The reality is that the price of...
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February 20, 2023
Yariv Haim outlines six factors to take into consideration when assessing model portfolio construction...
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January 30, 2023
Sparrows Capital Limited's Mark Northway takes a light-hearted look at the recent rise of anti-ESG investment products in the United States. Highlights interesting research from Elroy Dimson, Paul Marsh, and Mike Staunton on the historical performance...
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January 30, 2023
Sparrows Capital's CEO, Yariv Haim, looks at the learning opportunities from 2022. Similar investment approaches produced very different outcomes in 2022 and, with a few exceptions in lower-risk portfolios, passive approaches outperformed active – in...
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December 1, 2022
Through the voting powers that come with large shareholdings, fund management companies have huge influence over the way that the companies they invest in are run. Increasingly, however, large asset managers like BlackRock are looking...
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November 29, 2022
Investors are at the centre of a lively debate about how to influence the firms they invest in to become more ethical and sustainable. The issue is further complicated when investment is through collective funds...
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November 16, 2022
About 50% of advised assets are in model portfolio services (MPS) today. In the past few months, we have been pleased to see the launch of two comprehensive services designed to analyse and compare MPS...
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October 31, 2022
The traditional 60:40 model has come under pressure in recent years.
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October 27, 2022
Mark Northway, Investment Manager at Sparrows Capital Limited: “We are absolutely delighted with the award for Best Innovation in MPS. We firmly believe that the benefits of scale in the investing world should...
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October 11, 2022
Sparrows Capital Limited's David Ogden explains why the FCA's Consumer Duty will succeed where previous legislation has fallen short, and examines the very real implications for advisers and managers.
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October 3, 2022
ETFs have built a reputation for being able to operate through any emergency — until now No one should realistically expect an investment wrapper to provide more liquidity than exists at the level of the...
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September 30, 2022
Regulation has accelerated the acceptance of ESG. For example, if you look at pension trustees, they are not only required to address ESG and investment beliefs in the Statement of Investing Principles, but they must...
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September 26, 2022
DFM Sparrows Capital signs agreement with the P1 Platform Evidence-based discretionary investment manager, Sparrows Capital, launches on the P1 Platform. 26th September 2022 London-based Sparrows Capital has teamed up with the P1 Platform to provide...
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September 26, 2022
London-based Sparrows Capital has teamed up with the P1 Platform to provide its SCore model portfolios to users of the platform and to introduce existing users where appropriate. A white-labelled version of the platform will...
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September 26, 2022
The cooperation offers Sparrow Capital’s adviser clients access to their SCore MPS portfolios on the low-cost P1 Platform, the firm says, while facilitating the firm’s own capped fee charging structure.
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September 8, 2022
“Cryptocurrencies are not an asset class. It would be dangerous for the ETF world to take up the cudgel and suddenly start trying to provide access”, remarked Mark Northway, Sparrows Capital’s investment manager, at a...
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August 31, 2022
Index investors inherently choose to follow the market through exchange-traded and index funds, but the recent prohibition on trading Russian stocks and their removal from global benchmarks has created something of a conundrum. Major index...
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July 22, 2022
Limited secondary trading for bonds means equities are better suited for index investing, says Sparrows Capital's Mark Northway. Index investing works well in equities because those securities are exchange traded and generally offer sufficient liquidity...
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July 16, 2022
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July 14, 2022
Innovation in MPS Award Winner – Sparrows...
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July 14, 2022
Mark Northway, investment manager at Sparrows Capital, highlighted some structural issues within ETFs with potential to create lost returns or even existential risk. “I am concerned about the efficiency of ETFs and index investing given...
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July 13, 2022
The growth of MPS has been an important cog in the development wheel to democratise investment. It has done this by delivering cost-effective solutions for advisers which enable those clients with relatively smaller amounts to invest...
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July 4, 2022
Index investors inherently choose to follow the market through exchange-traded and index funds, but the recent prohibition on trading Russian stocks and their removal from global benchmarks has created something of a conundrum. Major index...
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June 22, 2022
Mark Northway explains why the growing popularity of ESG investments demands a new perspective from Trustees. Mark Northway, ‘Which way the wind blows’, STEP Journal (Vol30 Iss3), p67
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June 16, 2022
The tool will allow advisers to compare different model portfolio services, as well as assess and demonstrate their suitability for clients. Financial services consultancy The Lang Cat has added a new managed portfolio service (MPS)...
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May 16, 2022
The conventional wisdom that active managers can outperform in volatile markets is not borne out by data. It is not in the nature of many star managers to significantly adjust the strategy. The focus is...
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April 29, 2022
On a rather different tack, Mark Northway, investment director of the passives-based investment manager Sparrows Capital, says the underlying Common Wealth argument that passive funds are deliberately supporting ‘sin stocks’ while active managers pull out,...
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April 28, 2022
The simplicity and predictability of passive investments is their attraction, but these features have now thrown up a $4bn annual controversy (and that’s just for US funds). Investors who choose an index-tracking fund know which...
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April 22, 2022
Some ESG investors will only select like-minded managers that focus exclusively on ESG – but relying on subjectivity and emotion may be a mistake according to Mark Northway of Sparrows Capital, as he shares his...
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March 21, 2022
In these days of global unrest, rampant inflation, and interest rates on the rise, investors may find themselves wondering where the next body blow to returns will come from. So it is timely that Credit Suisse...
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February 9, 2022
There’s a growing trend towards specialising in ESG. Indeed, some fund selectors, advisers and consultants refuse to accept that an asset manager can run traditional investment products alongside ESG offerings. Mark Northway points out that...
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November 1, 2021
It might infuriate proponents of sustainable investing that ESG metrics were deemed unsuitable for use in a factor-based approach, but they should keep in mind the potential risks of doing so. It’s more prudent for...
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November 1, 2021
Market volatility has long been considered a happy hunting ground for active managers but investors are increasingly turning to ETFs in times of uncertainty. Traditionally considered an environment for an active manager to flourish, the Bank...
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November 1, 2021
In anticipation of COP26, IFA Magazine asks a number of industry experts, including Sparrows Capital's Mark Northway, to discuss their expectations and to review potential hurdles to meaningful progress. COP26 is one in a series of...
Read MoreAcademic Papers, Behavioural Finance,
September 23, 2021
The bottom line is that salience theory predicts that probabilities of the most salient (extremely favourable) outcomes are inflated, while probabilities of less salient (greater downside risk) outcomes are underweighted. The result is that...
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September 21, 2021
The takeaway for investors is to stop paying attention to what is almost certainly just noise. You are best served by building a globally diversified portfolio that reflects your unique ability, willingness and need to...
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August 20, 2021
Both Sparrows and Hubwise offer transparent and disruptive pricing models delivering quality investment solutions at fair value to advisers and their clients. A pioneer of Evidence-Based Investing, Sparrows Capital’s SCore MPS portfolios are designed to...
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August 17, 2021
Have sustainable funds run their course? Certainly, it’s one conclusion that could be drawn from a dismal recent run of performance that has seen sustainability funds sink to the bottom of the performance tables. However,...
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July 15, 2021
The biggest change in the investment world recently has undoubtedly been the huge increase in focus on ESG. Managers, often driven by marketing forces, rush to abandon tried and tested investment philosophies to jump on...
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June 30, 2021
Serendipity or systematic premium? That’s the question dogging the environmental, social, and governance (ESG) investment industry right now. Barely a day goes by without an announcement of more ‘evidence' behind the notion that ESG investing...
Read MoreNewsletters, Sparrows Papers,
June 24, 2021
If I knew then what I know now: The last 18 months have been something of a white-knuckle ride for many long-term investors. But for first-timers—particularly those in their twenties and thirties—...
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June 23, 2021
Traditional percentage-based pricing is being challenged, not least by investors with larger portfolios. Paraplanners are at the heart of the value discussion, so how can they help move the cost conversation forward, asks Mark Northway, investment manager...
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June 17, 2021
Wherever you look, the bond doomsayers are there. Their message is that the fixed income bull market, fueled by decades of falling rates, simply cannot go on any longer with yields across trillions of dollars...
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June 17, 2021
Investment space is witnessing a huge transformation from the last few years. Yariv Haim, Founder and CEO of Sparrows Capital Limited, has always been passionate about changing things for the better. “At Sparrows Capital, I enjoy working...
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May 30, 2021
Only a few stock-pickers generate better long-term returns than the broader stock market, which is why many investors decide that if you can’t beat the market, you may as well join it. They do it...
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May 14, 2021
The price of cryptocurrencies is not underpinned by any intrinsic value – it is determined by one thing: confidence.
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May 13, 2021
Sparrows Capital's Mark Northway believes that this latest volte-face by Elon Musk serves to support the argument that Bitcoin should have a special place next to ‘speculative’ in the dictionary. “There is an assumption that...
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April 16, 2021
Does investor sentiment predict overpriced or underpriced stock markets? Larry Swedroe reviews the evidence and concludes as follows: "The lesson for investors is to avoid being a noise trader. Don’t get caught up in following the herd...
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April 15, 2021
Sparrows Capital Limited's Mark Northway looks at the basis of factor investing and asks the key question: is ESG a factor or a filter?
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April 13, 2021
Sparrows Capital Limited's Yariv Haim speaks to Emily Aldrich about his motivation and drivers, and about what it's like to lead Sparrows Capital through its process of innovation.
Read MoreNewsletters, Sparrows Papers,
March 29, 2021
The logic of holding fixed income in your portfolio At $18 trillion and counting, the huge glut of global debt offering a negative yield is making fixed income look particularly unappealing. Why, the...
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March 26, 2021
Mark Northway, Investment Manager at Sparrows Capital, shares his thoughts about the momentum behind ESG investing and reminds investors to keep a cool head following a year of strong returns.
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January 26, 2021
As the focus on responsible investing has grown, so the incorporation of ESG and SRI factors into investment strategies has been gathering pace over the last decade, supported and encouraged by governments and non-governmental...
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January 5, 2021
Alpha is elusive We know that alpha is elusive and that finding managers that can consistently deliver alpha is a very difficult thing to do. But in the upwards moving stock market we have seen...
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January 5, 2021
It is always hard to know what will happen with markets. We’re not in the business of offering predictions. Instead, like some of the successful sovereign and endowment funds whose approach we aspire to, we...
Read MoreAcademic Papers, Behavioural Finance, Factor Investing, Modern Portfolio Theory, Newsletters, Passive Investing, Sparrows Papers, White Papers,
November 24, 2020
Elroy is an acknowledged expert on long-horizon factor investing and on responsible investing, both of which have featured heavily in the press throughout the pandemic. He is also consultant to the board of Sparrows Capital....
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June 15, 2020
ETF Insight There are long-standing arguments over the lack of consensus in ESG filtering. In this article Mark Northway points to research from Elroy Dimson, Marsh and Staunton in the recent Credit Suisse Investment Yearbook...
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June 8, 2020
IFA Magazine. John Bennett looks at the anachronism of asset based fees for platform-based model portfolios. Model portfolios are a very efficient way of delivering a diversified portfolio mix for every type of client attitude...
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June 4, 2020
Speaking on the fourth of ETF Stream’s webinar series, ETF Ecosystem Unwrapped, entitled Capital Markets: Making the ecosystem tick, Backreedy has bemoaned the major platforms’ decision to not upgrade their technology to incorporate ETFs.
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June 1, 2020
Sparrows Capital's Raymond Backreedy joins ETFStream's Tom Eckett, JPMorgan Asset Management's Thomas Stevens and UniCredit's Paolo Giulianini in the fourth webinar in the ETF Ecosystem Unwrapped series this Wednesday, 3rd June at 11am BST. The...
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May 7, 2020
by Jenna Brown Raymond Backreedy: Humans are naturally cautious about making long term commitments. We value flexibility in the face of an unknown future. Common sense tells us that keeping all options open is better...
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May 4, 2020
ETFStream. The record ETF trading volumes seen amid the coronavirus turmoil has highlighted issues with the lack of standardisation in the publication of an ETF’s daily holdings. But Mark Northway questions why a buy-side investor...
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May 4, 2020
Delivering a low-cost capped fee model portfolio service to advisers LONDON, 4th April 2020 – Following the launch last month of SCore MPS, Sparrows Capital’s low-cost, evidence-based, capped-fee model portfolio service, Sparrows Capital has partnered...
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May 4, 2020
by Daniela Esnerova Back office provider Intelliflo is set to launch portfolios from Sparrows Capital on its new Model Portfolio Service, Money Marketing can reveal. Sparrows will introduce 11 model portfolios priced at 0.08 per...
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April 15, 2020
In this issue of our Bird's Eye View, Raymond reviews the experience of the first quarter in 2020 and examines the benefits to investors of a rule-based investment process.
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February 20, 2020
London-based DFM Sparrows Capital has launched a platform-based model portfolio service for advisers, becoming one of the first fund houses to combine a low percentage-based fee with a low cap. Sparrows has released its SCore...
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February 20, 2020
Sparrows Capital has today launched an evidence-based model portfolio service, SCore MPS. This is an evidence-based, adviser only offering, initially available on a discretionary basis. Pricing is 0.1% per annum, capped at £20 per month...
Read MoreNewsletters, Sparrows Papers,
February 5, 2020
Alistair takes an irreverent look at the track record of some well known market forecasters.
Read MoreNewsletters, Sparrows Papers,
December 9, 2019
Yariv & Alistair review the benefits of diversification against the background of recent market disruptions.
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December 4, 2019
ETFStream - Scott Longley Cryptocurrencies are speculative assets, not investments. They are not relevant to investors, and it is not clear that they ever will be. It is not helpful for providers to be using...
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December 4, 2019
ETFStream - Scott Longley The Aramco offering is an example of the issues faced by passive investors in emerging market ETFs. Given the increasing focus by both investors and regulators on environmental considerations, automatic investment...
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November 28, 2019
ETFStream by Scott Longley The BMO product suite, and in particular the short-dated high grade corporate global bond ETFs tracking the Bloomberg Barclays Global Corporate 1-3 Very Liquid Hedged to GBP index was certainly a...
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November 11, 2019
Single-company leveraged ETPs compete directly with CFDs. ETPs have the advantage of being exchange traded, which suggests the possibility of a liquid market. The ability to sell to a third-party and the engagement of a...
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October 29, 2019
Hedge funds entered this year coming off their 10th straight year of trailing the return of the S&P 500 Index. Over the 10-year period ending December 2018, they underperformed every single major equity asset class...
Read MoreNewsletters, Sparrows Papers,
September 24, 2019
Alistair Meadows looks at Trump's options for stemming the inexorable rise of the US Dollar.
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September 23, 2019
Mark Northway comments that as ETF expense ratios head ever lower, it is natural for investors to start to wonder what part of the cost of following a given index is the royalty paid across...
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August 22, 2019
ETF Insight: To parity and beyond – what happens when we reach the passive tipping point? Mark suggests that ‘peak passive’ will be reached when a sufficiently large opportunity has opened up for price makers...
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August 2, 2019
Data from CREATE Research earlier this summer suggests that though the changing nature of pension fund ETF usage is gradual, it is happening and is on the increase. Mark Northway predicts we will see more...
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July 10, 2019
Mark Northway, Sparrows Capital Like racehorses, few fund managers persistently outperform. Occasionally, a champion does appear, set apart from the field and beating the odds. Betting on these winners can be lucrative, but punters do...
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July 4, 2019
ETFS Product Panel: Franklin Templeton India ETF The Franklin Templeton India ETF is a useful tool for managing tactical exposure to India over the short term, but perhaps not ideal as a strategic portfolio holding.
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July 3, 2019
ETF Insight: Should smart beta be the preserve of active? Mark Northway argues that factor tilts are expected to attract a premium over the long-term, and no evidence has been presented to date to suggest...
Read MoreNewsletters, Sparrows Papers,
June 20, 2019
Do active managers outperform passive managers in bear markets? Ray explores the persistent claim that active management outperforms in bear markets, and finds that the evidence suggests otherwise.
Read MoreNewsletters, Sparrows Papers,
June 11, 2019
Welcome to our Bird’s Eye View, in which Mark looks at the implications of the Woodford Equity Income Fund debacle.
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May 28, 2019
Part of the responsibility of index providers is an assessment of the rule of law, of investor protections and of governance practices – all areas in which China remains notably deficient. Mark Northway points to...
Read MoreNewsletters, Sparrows Papers,
January 15, 2019
ESMA report on the cost and performance of investment products Yariv reviews the findings of this recently published report which again highlights issues with fee levels and value for money across the asset management industry....
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December 20, 2018
ELROY DIMSON ON ESG AND WHETHER TO INVEST IN COLLECTIBLES In his second interview with Sparrows Capital's Professor ELROY DIMSON Robin Powell explores Elroy's more specialised academic interests, including ethical investing, and the wisdom (or...
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December 20, 2018
ELROY DIMSON ON THE MOST IMPORTANT LESSON FROM MARKET HISTORY The importance of diversification is clear within markets, but across markets it is also worthwhile. And it’s easier today than it was 100 years ago...
Read MoreNewsletters, Sparrows Papers,
December 20, 2018
In this edition Raymond Backreedy looks at recent market volatility and advocates a steady hand.
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November 15, 2018
In response to BlackRock iShares recent high profile move into ESG funds, Mark Northway from Sparrows Capital suggests that naming conventions on ESG matter – and that BlackRock are confusing matters with a lack of...
Read MoreRecommended Books,
October 15, 2018
Behavioural Investing: A Practitioner's Guide to Applying Behavioural Finance James Montier Behavioural investing seeks to bridge the gap between psychology and investing. All too many investors are unaware of the mental pitfalls that await them....
Read MoreSparrows Papers, White Papers,
September 24, 2018
Sustainable investing is a growing focus for investors, who are increasingly looking to their money to do something positive at the same time as generating an investment return. The discipline goes beyond the traditional asset...
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September 24, 2018
Sparrows Capital is delighted to announce its strategic partnership with Robin Powell's Adviser 2.0 platform. Adviser 2.0, is a truth seeking blog. It is based on a belief in evidence-based investing and on the premise...
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July 25, 2018
A comprehensive review by Larry Swedroe of the disingenuous claims made by some market participants about the dangers of passive investing. Worth a read!
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June 28, 2018
Yariv Haim and Elroy Dimson feature as the cover story for Wealth Manager Magazine. Yoosof Farah interviews Sparrows Capital and explores the company's history, philosophy and unique business proposition.
Read MoreSparrows Papers, White Papers,
June 28, 2018
One of Sparrows Capital’s consistent themes is the benefit to investors of creating a rule-based, low-cost control account, representing the strategic asset allocation, to sit alongside active portfolio components. This concept provides a real life,...
Read MoreNewsletters, Sparrows Papers,
May 10, 2018
Yariv takes a wry look at the philosophical issues affecting investment behaviour. The universe has a funny sense of humour!
Read MorePress/Video,
March 13, 2018
The Evening Standard's Simon English looks at the difficulties of predicting the future, and the issues faced by investors even where their intuition is correct. An army of City forecasters — bankers, analysts, fund managers and...
Read MoreAcademic Papers, Behavioural Finance,
March 8, 2018
Kahneman, D., and A. Tversky (1979), “Prospect theory: an analysis of decision under risk”, Econometrica 47:263−291. This paper presents a critique of expected utility theory as a descriptive model of decision making under risk, and...
Read MoreAcademic Papers, Behavioural Finance,
March 8, 2018
Barberis, N. and Thaler, R., 2003, "A Survey of Behavioral Finance," Handbook of the Economics of Finance, Chapter 18, pp 1051-1121. Behavioral finance argues that some financial phenomena can plausibly be understood using models in...
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March 7, 2018
Mark Northway of Sparrows Capital warns the global financial system is in virgin territory. He told Express.co.uk: “As global growth and inflation start to raise their head, the central banks are starting to want to...
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March 6, 2018
Ten years to the day since Northern Rock was nationalised and the fragile state of the UK’s financial system was exposed, Express.co.uk spoke to to a number of finance experts on whether the lessons of 2008...
Read MoreNewsletters, Sparrows Papers,
February 5, 2018
Raymond Backreedy discussed the difficulties of picking a market entry point - and the very real cost of being uninvested while doing so.
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January 30, 2018
Analysis carried out by CEM Benchmarking for the FT shows that most of the value created by investing people’s pensions is simply returned to the asset management industry. The research concludes that “active” fund managers pocket...
Read MoreNewsletters, Sparrows Papers,
December 21, 2017
The Price is Right! In this issue of our newsletter Yariv Haim takes a walk down memory lane...
Read MorePress/Video,
December 19, 2017
Does evidence-based investing yield positive results? There is more than one way to skin a cat, and there are multiple investment strategies you can apply to your savings. But how do you know which strategy...
Read MoreNewsletters, Press/Video, Sparrows Papers,
December 5, 2017
An evidence-based approach to trustees' fiduciary responsibility London, December 2017: Sparrows Capital, the evidence-based asset manager, has launched its new investment suite specifically designed for trustees looking to preserve and enhance the value of...
Read MorePress/Video,
November 10, 2017
Anthony Hilton: With stock markets hitting new highs here and in the US, it is a good time to ask how many investors are actually making the money they could be? Booming markets suggest profits...
Read MoreNewsletters, Sparrows Papers,
November 9, 2017
In this issue of our newsletter Yariv Haim shares his insights from the Brexit experience so far.
Read MorePress/Video, Sparrows Papers,
October 16, 2017
The reality of the impact of investment skill Mark Northway looks at whether investment performance for charities is really generated by the skill of the fund manager and how passive strategies contribute to charity portfolios.
Read MoreNewsletters, Press/Video, Sparrows Papers,
September 26, 2017
The Public Employees Retirement System of Nevada (NVPERS) follows an approach which will sound remarkably familiar to our readers. The fund adopts a core and satellite approach to investing, with the 80% core portfolio expressed...
Read MoreNewsletters, Sparrows Papers,
September 6, 2017
Insights from the FCA Asset Management Market Study - Final Report The UK's Financial Conduct Authority recently published its final report on the state of the asset management industry, disappointing many spectators by softening some...
Read MorePress/Video, Sparrows Papers,
September 5, 2017
Evidence-based investing does away with emotive decision making and focuses on robust risk management, says Danielle Levy. Selling out of poorly performing investments during a market sell-off is one of the most common mistakes investors...
Read MoreNewsletters, Sparrows Papers,
August 21, 2017
FCA Asset Management Market Study – Final Report The UK’s Financial Conduct Authority recently published its final report on the state of the asset management industry. Yariv Haim, CEO of Sparrows Capital, examines the implications...
Read MorePress/Video, Uncategorized,
August 11, 2017
Seven wealth managers share their summer reads - by Hamza Ali Mark Northway, Sparrows Capital Winning the Loser’s Game by Charles D. Ellis A required read at Sparrows Capital by one of the most respected...
Read MorePress/Video, Recommended Books,
July 24, 2017
A recent project funded by the CFA Institute Research Foundation was the writing and publication of Financial Market History: Reflections on the Past for Investors Today. Financial Times senior investment commentator John Authers praised this...
Read MorePress/Video,
July 7, 2017
The Transparency Task Force (TTF) has launched an exclusive new community for progressive asset managers. The purpose of the community is to facilitate collaboration between asset managers that have a more enlightened and progressive approach....
Read MoreNewsletters, Sparrows Papers,
June 5, 2017
Evidence based portfolio design Can passive become the new active? Yariv Haim reviews lessons learned from active and passive investment approaches, and proposes an enhanced evidence-based portfolio design on the basis of his findings.
Read MorePress/Video,
April 26, 2017
Another intriguing article from Larry Swedroe. Larry compares the performance of two of the top US active investment firms, SEI and Russell, to the rules-based performance of the equivalent fund from Dimensional Fund Advisors (DFA)....
Read MorePress/Video,
April 25, 2017
Raymond Backreedy Raymond will be responsible for investment policy and for portfolio design and management. He will also be providing risk oversight. His experience of constructing and managing rules-based multi asset portfolios will further broaden the...
Read MoreNewsletters, Sparrows Papers,
April 20, 2017
Mark Northway looks at the rise of populist movements and the growing prominence of political risks.
Read MorePress/Video,
April 19, 2017
The SPIVA Scorecards provide powerful evidence on the persistent failure of active management’s ability to generate alpha (Larry Swedroe)
Read MorePress/Video,
April 4, 2017
John Stepek makes a strong point about the extension of duration in the sector which can magnify any correction in the Fixed Income markets. Low interest rates are further addressed in our 2016 white paper...
Read MorePress/Video,
March 13, 2017
The FT's John Authers looks at the 458 claimed factor sightings, and effectively dismisses most as snake oil. "If treated like new drugs, most would never be cleared for sale to the public" He goes on...
Read MoreNewsletters, Sparrows Papers,
March 9, 2017
Buffett's Bet! Mark Northway reviews Warren Buffett’s illuminating annual letter to Berkshire Hathaway’s shareholders.
Read MoreNewsletters, Sparrows Papers,
December 31, 2016
Mark Northway delves into the FCA Asset Management Market Study and discovers that the regulator's findings represent a welcome vindication of Sparrows Capital's beliefs and philosophy.
Read MoreNewsletters, Sparrows Papers,
November 30, 2016
Most investors know that their portfolio should be diversified, but don’t understand what that really means, or why. Investors often misunderstand—and therefore misapply—the concept. That can leave them with more risk than necessary, or with...
Read MoreNewsletters, Sparrows Papers,
September 30, 2016
Coming back from their holiday, the Johnson family was disappointed. Their summer house had been under renovation for the past 6 months, and although it was supposed to be ready three weeks ago, they hadn’t...
Read MoreNewsletters, Sparrows Papers,
August 30, 2016
When panic selling hits a market, or even worse when a market is shut down for a long period of time to deal with a crisis or market dislocation events, we should always be monitoring...
Read MoreNewsletters, Sparrows Papers,
June 30, 2016
It has been two years since we opened the doors at Sparrows Capital. During this time we have looked to build a constructive dialogue to earn your trust and to form the basis of a...
Read MoreSparrows Papers, White Papers,
June 22, 2016
On March 25th 2016 the Financial Times published an article entitled “Smart beta not quite as clever as marketed”. The full article can be found at: http://on.ft.com/1pLRBle . The author, John Authers, raises questions...
Read MorePress/Video,
June 17, 2016
Article published on thewealthnet
Read MoreSparrows Papers, White Papers,
May 31, 2016
A Zero Interest Rate World Fahd Rachidy explores the theoretical and practical implications of the current low / zero rate interest environment What is fixed income pricing telling us about market expectations for asset prices?...
Read MoreNewsletters, Sparrows Papers,
March 31, 2016
John had come to the clear conclusion that he would be better off with a passive investment manager. He would have someone focused entirely on his needs, not on gambling his money on risky speculation....
Read MoreNewsletters, Sparrows Papers,
January 30, 2016
Bird's Eye View. January 2016. Months later John was still reading and trying to understand what the Efficient Market Hypothesis was, and what is an asset allocation. He now knew that ETF selection requires an...
Read MoreRecommended Books,
January 17, 2016
Investors have too often extrapolated from recent experience. In the 1950s, who but the most rampant optimist would have dreamt that over the next fifty years the real return on equities would be 9% per...
Read MoreAcademic Papers, Factor Investing,
January 17, 2015
Jegadeesh N., and Titman S., 1993 “Returns to buying winners and selling losers: implications for stock market efficiency,” Journal of Finance, vol. 48 This paper documents that strategies which buy stocks that have performed well...
Read MoreAcademic Papers, Factor Investing,
January 17, 2015
Fama E., and French K., 1993. “Common Risk Factors in the Returns on Stocks and Bonds”. Journal of Financial Economics, vol 33, no. 1, pages 3-56
Read MoreAcademic Papers, Factor Investing,
January 17, 2015
Erb C., and Harvey C., 2006, “The Strategic and Tactical Value of Commodity Futures”, Financial Analysts Journal, vol 62, no. 2, pages 69-97
Read MoreAcademic Papers, Passive Investing,
January 17, 2015
Cuthbertson K., Nitzsche D., and O’Sullivan D., 2008, “UK mutual fund performance: Skill or luck?” Journal of Empirical Finance”, vol 15, no. 4, pages 613-633
Read MoreAcademic Papers, Passive Investing,
January 17, 2015
Burton G. Malkiel and Atanu Saha, 2005 “Hedge Funds: Risk and Return” Financial Analysts Journal, vol. 61, no. 6, pages 80-92
Read MoreAcademic Papers, Passive Investing,
January 17, 2015
Barras L., Scaillet O. & Wermers R., 2010. "False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas," Journal of Finance, vol. 65, no. 1, pages 179-216
Read MoreAcademic Papers, Modern Portfolio Theory,
January 17, 2015
Leibowitz M.L., and Bova A., 2011, “Policy Portfolios and Rebalancing Behavior”, The Journal of Portfolio Management, vol. 37, no. 2, pages 60-71
Read MoreAcademic Papers, Modern Portfolio Theory,
January 17, 2015
Jaconetti C. M., Kinniry F.M., Zilbering Y., 2010, “Best Practices for Portfolio Rebalancing”, Vanguard Research
Read MoreAcademic Papers, Modern Portfolio Theory,
January 17, 2015
Ibbotson R., 2010, “The Importance of Asset Allocation”, Financial Analysts Journal, vol. 66, no. 2, pages 18-20
Read MoreAcademic Papers, Modern Portfolio Theory,
January 17, 2015
Booth D. G., and Fama E., 1992 “Diversification Returns and Assets Contributions” Financial Analysts Journal, vol 48, no. 3, pages 26-32
Read MoreAcademic Papers, Modern Portfolio Theory,
January 17, 2015
Black F., 1972. “Capital Market Equilibrium with Restricted Borrowing.” Journal of Business, vol. 4, no. 3, pages 444–455
Read MoreAcademic Papers, Modern Portfolio Theory,
January 17, 2015
Bernstein W. J., and Wilkinson, D. J., 1997, “Diversification, Rebalancing, and the Geometric Mean Frontier”, unpublished paper
Read MoreRecommended Books,
January 17, 2015
A Random Walk Down Wall Street has long been established as the first book to purchase when starting a portfolio. This new edition features fresh material on exchange-traded funds and investment opportunities in emerging markets;...
Read MoreRecommended Books,
January 17, 2015
The Great Mutual Fund Trap shows that the average mutual fund consistently underperforms the market, and that strategies for picking above-average funds — everything from past performance to expert rankings — are useless. Picking individual...
Read MoreRecommended Books,
January 17, 2015
In this newly revised and expanded edition of the groundbreaking New York Times bestseller, Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. From drinking coffee to losing weight, from buying...
Read MoreRecommended Books,
January 17, 2015
This book is about luck–or more precisely, about how we perceive and deal with luck in life and business. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the...
Read MoreRecommended Books,
January 17, 2015
Trying to outwit the market is a bad gamble. If you're serious about investing for the long run, you have to take a no-nonsense, businesslike approach to your portfolio. In addition to covering all the...
Read MoreRecommended Books,
January 17, 2015
Michael Edleson first introduced his concept of value averaging to the world in an article written in 1988. He then wrote a book entitled Value Averaging in 1993, which has been nearly impossible to find—until...
Read MoreRecommended Books,
January 10, 2015
This book includes time-tested techniques - safe, simple, and proven effective - for building your own investment portfolio. "As its title suggest, Bill Bernstein's fine book honors the sensible principles of Benjamin Graham in the...
Read MoreRecommended Books,
January 10, 2015
Stocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove...
Read MoreImportant Information
Material on this site is issued in the United Kingdom (“UK”) by Sparrows Capital Limited (“Sparrows”) which is authorised and regulated in the UK by the Financial Conduct Authority (“FCA”).
Use of Information and Material
The information contained on this site (including any expression of opinion or forecast) has been obtained from, or is based on, sources believed by Sparrows and its associated companies to be reliable, but is not guaranteed as to its accuracy or completeness. This does not exclude or restrict any duty or liability that Sparrows has to its customers under the regulatory system in the United Kingdom. This Site and the information herein is for general information purposes only. Your eligibility for particular products and advisory or management services is subject to local law and regulation.
Risk Factors
Past performance is no indication of future performance. The value of investments may fall as well as rise and investors may not get back the full amount invested. Changes in rates of foreign exchange may cause the value of investments to go up or down.
No Advice, Offers or Solicitations
The information and materials in this Site should not be construed as providing tax, legal or investment advice. In addition, they do not constitute an offer or solicitation, or an offer to sell, shares of any funds or any advisory or management service.. The type of securities mentioned may not be suitable for everyone.
USERS ARE URGED TO BASE THEIR INVESTMENT DECISIONS UPON A THOROUGH INVESTIGATION AND TO OBTAIN ALL NECESSARY PROFESSIONAL ADVICE.
Material Interests
Staff and/or directors of Sparrows may have holdings in the investment funds referred to on this site.
United Kingdom Stewardship Code
The Stewardship Code (the “Code”) was developed from the Walker Review on Corporate Governance in the UK and aims to enhance the quality of engagement between investors (and investment managers) and UK listed companies.
Sparrows supports the principles enshrined in the Code. Although the Code is voluntary, the FCA requires Sparrows to include on this website a disclosure about its commitment to the Code or, where it does not so commit, its alternative strategy. The FCA and the Financial Reporting Council have acknowledged that certain aspects of the Code are not directly relevant to all investment firms.
Sparrows invests almost exclusively in rule-based ETFs and index funds in order to capture market returns across all asset classes globally. Sparrows does not directly invest in shares or bonds issued by UK listed companies and therefore has no direct interaction with the management of such companies and does not enjoy voting rights in relation to such companies. For this reason, the Code is not directly relevant to Sparrows and it is not practical for Sparrows to implement a policy of direct engagement.
Sparrows’ due diligence prior to investing in an ETF or index fund does, however, take specific account of the fund manager’s own commitment to the Code (or equivalent depending on jurisdiction) and the nature of their engagement and voting policies with regard to companies in which their funds invest.
Given both Sparrows’ and the ETF or index fund provider’s index tracking requirements, there is very limited scope for stewardship through selective allocation or de-allocation decisions. For this reason, Sparrows’ analysis focuses on stewardship through engagement and through the exercise of voting rights.
Copyright, Trademarks and Other Rights
Copyright and trademarks and all similar rights in this site are owned by Sparrows, or relevant third-party content providers. You may use the information on this site and reproduce it in hard copy for your personal reference only. Such information may not otherwise be reproduced, distributed, stored in a data retrieval system or transmitted, in any form or by any means – electronic, mechanical, photocopying, recording or otherwise – without the prior written permission of Sparrows.
Complaints
Any complaints about the Sparrows service or website should be directed to:
The Compliance Officer, Sparrows Capital Limited, Office 7, 35-37 Ludgate Hill, London, EC4M 7JN
If we are unable to resolve the matter to your satisfaction, you may have access to the Financial Ombudsman Service. The Financial Ombudsman Service’s website is at http://www.financial-ombudsman.org.uk/
Background
These are the Pillar 3 disclosures made by Sparrows Capital Limited (“Sparrows”) in accordance with the UK Financial Conduct Authority’s (“FCA”) Prudential Sourcebook for Banks, Building Societies and Investment Firms (“BIPRU”).
The European Union Capital Requirements Directive (“CRD”) created a regulatory capital framework consisting of three ‘pillars’ namely:
Pillar 1 – sets out the minimum capital requirements that firms are required to meet;
Pillar 2 – requires firms to take a view on whether additional capital should be held against capital risks not covered by Pillar 1; and
Pillar 3 – requires firms to publish certain details of their risks, capital and risk management process.
Disclosure policy
The rules in BIPRU 11 provide that Sparrows may omit one or more of the required disclosures if it believes that the information is immaterial. Materiality is based on the criteria that the omission or misstatement of material information would be likely to change or influence the assessment or decision of a user relying on that information for the purposes of making economic decisions. Where Sparrows considers a disclosure to be immaterial, this will be stated in the relevant section.
Sparrows is also permitted to omit one or more of the required disclosures where it believes that the information is regarded as proprietary or confidential. Proprietary information is that which, if it were shared, would undermine Sparrows’ competitive position. Information is considered to be confidential where there are obligations binding Sparrows to confidentiality with its clients and counterparties.
Where Sparrows has omitted information for any of the above reasons, a statement explaining this will be provided in the relevant section.
Unless stated as otherwise, all figures contained in this disclosure are based on Sparrows’ audited annual reports for the year ending 31 December 2023.
Frequency
These Pillar 3 disclosures will be reviewed on an annual basis as a minimum. The disclosures will be published as soon as is practical following the finalisation of Sparrows’ Internal Capital Adequacy and Risk Assessment (“ICARA”) and its annual accounts.
Verification
The information contained in these disclosures has not been audited by Sparrows’ external auditors and does not constitute any form of financial statement.
Publication
Sparrows’ Pillar 3 disclosures are published on its website.
Scope and application of CRD requirements
These disclosures are made in respect of Sparrows, a BIPRU firm authorised and regulated by the FCA, providing financial advice and discretionary investment management services.
Risk management objectives and policies
Sparrows’ risk management policy reflects the FCA requirement that it must manage a number of different categories of risk. These include: liquidity; credit; interest rate; market; and operational risks.
Sparrows manages all cash and borrowing requirements to maximise potential interest income whilst ensuring it has sufficient liquid resources to meet the continued operating needs of its business. This is supported by a robust budgeting and forecasting process which has the full involvement of the senior management team.
The main credit risk for Sparrows relates to income from fees, the risk being that a client does not pay amounts due for services provided by Sparrows. In most cases, quarterly management fees are charged to clients based on a percentage of the client’s assets under management. Concentration risk is defined as the risk of loss of income through external changes having a disproportionate impact on overall income due to a reliance on revenue from certain sectoral, geographic areas and/or businesses. Credit risk concentrations include significant exposure to an individual client or group of clients and credit exposures to clients in the same economic sector or geographic region.
A significant proportion of Sparrows’ income is received from clients that are part of the same group as Sparrows’ major shareholders. This ongoing interest in the activities of Sparrows by the group mitigates the risk of the group jeopardising Sparrows’ income flow.
Sparrows is exposed to country risk as a number of clients are based in a non-European Economic Area country. As these clients are all high net worth or ultra-high net worth long-term investors with spare capital invested in globally diversified liquid financial instruments, the risk of being unable to meet unforeseen financial needs and payment of Sparrows’ fees is low.
Based on the analysis of concentration risk, the risk of non-payment of fees has been assessed as minimal.
Sparrows has no exposure to interest rate risk as it has no debt and no client cash deposits
The main market risk for Sparrows relates to falls in value of assets under management following a market downturn, which would lead to lower management fees. To mitigate its market risk, Sparrows regularly analyses various different economic scenarios to model the impact of economic downturns on its financial position.
Operational risk is defined as the potential risk of financial loss or impairment to reputation resulting from inadequate or failed internal processes and systems, from the actions of people or from external events.
Major sources of potential operational risk include: Outsourcing of operations, IT security, internal and external fraud, implementation of strategic change and regulatory non-compliance.
Sparrows operates a robust risk management process which is regularly reviewed and updated by its Board. The Board formally reviews all significant risk issues at least annually as part of the ICARA.
All senior members of staff bear responsibility for internal controls and the management of business risk as part of their accountability to the Board. All staff are responsible for identifying the risks surrounding their work, implementing controls over those risks and reporting areas of concern to their senior member of staff.
Sparrows operates a simple business model. Accordingly, many of the specific risks identified by the FCA do not apply. For example, it has no material outsourcing arrangements and does not hold any client assets.
Capital resources
Pillar 1 requirement
In accordance with the FCA rule GENPRU 2.1.45R (calculation of variable capital requirement for a BIPRU firm), Sparrows’ capital requirement has been determined as being its fixed overhead requirement and not the sum of its credit risk capital requirement and its market risk capital requirement.
The Pillar 1 capital requirement for Sparrows was £604,000 as at 31 December 2023.
Pillar 2 requirement
Sparrows’ overall approach to assessing the adequacy of its internal capital is set out in its ICARA report. The ICARA involves separate consideration of risks to Sparrows’ capital, combined with stress testing using scenario analysis. The level of capital required to cover risks is a function of impact and probability. Sparrows assesses impact by modelling the changes in its income and expenses caused by various potential risks over a 1-year time horizon. Probability is assessed subjectively. In addition, Sparrows has reviewed the outputs of its risk reviews to quantify any risks identified. This has identified a number of key business risks, which (having reviewed the guidance in BIPRU 2.2.61-65) Sparrows has classified against the risk categories outlined in FCA rule GENPRU 1.2.30R.
Sparrows Pillar 2 capital requirement, which is its own assessment of the minimum amount of capital that it believe is adequate against the risks identified, has been assessed as greater than its Pillar 1 requirement.
There is a considerable surplus of reserves above the capital resource requirement deemed necessary to cover the risks identified.
Regulatory capital
The main features of Sparrows’ capital resources for regulatory purposes, as at 31 December 2023 are as follows:
| Capital item: | £000 |
| Tier 1 capital (called up share capital, share premium account, profit and loss account, externally verified interim net profits) | 1,618 |
| Total of Tier 2 and Tier 3 capital (broadly long and short term subordinated loans) | – |
| Deductions from Tier 1 and Tier 2 capital | – |
| Total capital resources, net of deductions | 1,618
|
Sparrows holds regulatory capital in accordance with the CRD. All such capital is classified as Tier 1 capital and is therefore of the highest quality.
Remuneration Code Disclosures
Sparrows is subject to the BIPRU Remuneration Code. This section provides further information on Sparrows’ remuneration policy.
BIPRU Remuneration Code Staff
Sparrows has identified, and maintains a record of, BIPRU Remuneration Code staff (“Code staff”), i.e. staff to whom the BIPRU Remuneration Code applies. This includes senior management and members of staff whose actions may have a material impact on Sparrows’ risk profile. All of Sparrows’ Code staff fall into the “senior management” category of Code staff (rather than the “risk taker” category) for the purposes of the BIPRU Remuneration Code.
Decision Making / Remuneration Committee
Sparrows does not have and is not required to have a Remuneration Committee. The Board is responsible for Sparrows’ remuneration policy including determining the framework and policy for remuneration and ensuring it does not encourage undue risk taking; agreeing any major changes in remuneration structures; reviewing the terms and conditions of any new incentive schemes and in particular, considering the appropriate targets for any performance related remuneration schemes; and considering and recommending the remuneration policy for senior staff taking into account the appropriate mix of salary, discretionary bonus and share based remuneration.
In determining remuneration arrangements, the Board will give due regard to best practice and any relevant legal or regulatory requirements including the BIPRU Remuneration Code.
Link between pay & performance
There is ostensibly a discretionary variable pay element to the Sparrows’ remuneration package.
Quantitative information on remuneration
The FCA rules require certain firms to disclose aggregate information on remuneration in respect of its BIPRU Remuneration Code staff broken down by business area, senior management and other Code staff, including “risk takers”.
Sparrows has only one business area – investment management & advice.
Sparrows has 4 Directors but no material “risk takers”. Director remuneration is agreed formally at Board meetings. The link between performance and pay is inevitable in a small firm, but Sparrows’ risk-averse strategy and robust risk management systems mitigate risks.
At Sparrows Capital we are committed to safeguarding and preserving the privacy of our visitors. This Privacy Policy explains what happens to any personal data that you provide to us, or that we collect from you whilst you visit our site.
We do update this Policy from time to time so please do review this Policy regularly.
In running and maintaining our website we may collect and process the following data about you:
Cookies provide information regarding the computer used by a visitor. We may use cookies where appropriate to gather information about your computer in order to assist us in improving our website.
We may gather information about your general internet use by using the cookies. Where used, these cookies are downloaded to your computer and stored on the computer’s hard drive. Such information will not identify you personally. It is statistical data. This statistical data does not identify any personal details whatsoever.
You can adjust the settings on your computer to decline any cookies if you wish. This can easily be done by activating the reject cookies setting on your computer.
We use the information that we collect from you to provide our services to you. In addition to this we may use the information to provide information to you that you request from us relating to our services and to inform you of any changes to our website or services.
In operating our website it may become necessary to transfer data that we collect from you to locations outside of the European Union for processing and storing. By providing your personal data to us, you agree to this transfer, storing or processing. We do our upmost to ensure that all reasonable steps are taken to make sure that your data is treated and stored securely.
Unfortunately the sending of information via the internet is not totally secure and on occasion such information can be intercepted. We cannot guarantee the security of data that you choose to send us electronically. Sending such information is entirely at your own risk.
We will not disclose your personal information to any other party other than in accordance with this Privacy Policy and in the circumstances detailed below:
On occasion we include links to third parties on this website. Where we provide a link it does not mean that we endorse or approve that site’s policy towards visitor privacy. You should review their privacy policy before sending them any personal data.
In accordance with the General Data Protection Regulation (GDPR) you have the right to access any information that we hold relating to you. Please note that a reasonable charge may be payable.
Cross-Device Tracking and Ad Targeting
We may engage in cross-device tracking and ad targeting to provide you with personalised advertising experiences across your devices. This means that we may collect information about your activities on our website and other online platforms, as well as on your various devices such as your computer, smartphone, or tablet. The information collected may include but is not limited to, your browsing history, interactions with advertisements, and device identifiers.
The purpose of cross-device tracking and ad targeting is to tailor advertisements to your interests and preferences, making them more relevant to you. This helps us to deliver a more personalised and engaging experience while also allowing us to measure the effectiveness of our advertising campaigns.
We may work with third-party advertising partners and service providers who assist us in delivering targeted advertisements. These partners may use cookies, web beacons, and other tracking technologies to collect information about your activities across different websites and devices to provide you with targeted advertisements.
You can opt-out of targeted advertising by adjusting your device settings or by using opt-out tools provided by third-party advertisers and ad networks. Please note that opting out of targeted advertising does not mean you will no longer see advertisements, but rather that the advertisements you see may be less relevant to your interests.
By continuing to use our website and services, you consent to the use of cross-device tracking and ad targeting as described in this Privacy Policy.
Please do not hesitate to contact us regarding any matter relating to this Privacy Policy at info@sparrowscapital.com.